Monday

Frugal Youth

I've noticed something new among teens: frugality. For their prom dinner, for instance, the girls were excited that a parent agreed to host the dinner. Every family pitched in a dish for six couples, and the kids had a great dinner without spending $100 per couple at a nice restaurant. Girls also made their own corsages . . . and buzzing about it with excitement. Frugality is kinda cool with these kids.

It has to be the result of the Great Recession, and a recent survey indicates that it's nationwide. "The recently released Charles Schwab 2011 Teens & Money Survey suggests that, in some small way, the recession may have instilled a conscious attitude about money in young people who lived through" the recession. Link.

It's a good thing. It's not good for Keynesians, who think spending is virtuous, but for the sane and balanced, it's a good thing.

BTW: I can't recall if I've mentioned here my distinction between "cheap" and "frugal." An op-ed that I wrote for Our Sunday Visitor awhile back took the position that a "frugal" person is someone who inconveniences himself with his savings. A "cheap" person is someone who inconveniences others. The cheap person doesn't a buy a round at the bar; the frugal person drinks beer on his porch.

Late Night Lines

Democrats and Republicans are calling for Congressman Anthony Weiner to resign. Late night comedians are asking him to hang in there. Conan

Many of Anthony Weiner's Democratic colleagues are calling for him to resign to preserve his dignity, but that ship sailed a long time ago. Kimmel

President Obama has offered bailout money to keep Greece from defaulting on its loans. Yeah, when Greece thanked him, Obama was like, “Don't mention it . . . to China, because it's their money.” Fallon